Answers from the Sea

IIPM BEST B-SCHOOL

In the lobby of PharmaMar, a biotechnology company on the outskirts of Madrid, neon fish dart through a coral-filled aquarium. On the walls hang dramatic photos of underwater creatures. These visuals highlight a relatively unexplored terrain in biomedical research: the sea. PharmaMar’s research offers a tantalizing glimpse at this new frontier in medicine.

“Most of the drugs that have been a success in cancer treatment have come from a natural source, but a terrestrial source,” says Carmen Cuevas, director of resea rch and development for PharmaMar. “Why not use the sea as a source, if life started in the sea?”

This idea is exactly what spurred the creation of PharmaMar, one of Spain’s oldest biotechnology companies, in 1986. Founder José María Fernández - Sousa, then a university professor involved in research and development at a local company focusing on microbiology and antibiotics, met a University of Illinois chemist who was examining mar ine products. Fernández –Sousa thought the sea could be a potentially perfect source of novel compounds, par t icularly t hose with ant itumor properties.

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Source : IIPM Editorial, 2007

An IIPM and Professor Arindam Chaudhuri (Renowned Management Guru and Economist) Initiative

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GM in Toyota’s rear view!

IIPM PUBLICATION

In 1937, Sakichi Toyoda would have never thought that one day his local car company would be amidst the fiercest battle in the history of the industrial world. Toyota Motor company, as it is known today, has come a long way since it started the production of ‘model SA’ back in 1947. The company has raided Detroit with such an intense ferocity that there has been a scramble for cover among the big three. Seemingly, immortal Ford Motor company has gone in an un-recovered depression, as its sales and market share are on a continuous downslide, and a recovery looks bleak. There has been resistance but to no avail, it appears that Toyota is just cruising along and it has already overtaken Ford and DaimlerChrysler on the way.

However, the real tremors from this reckoning were felt by the mother goose, General Motor (GM). The erstwhile number one car-maker has just been overtaken by Toyota in terms of global sales, selling 2.38 million cars as compared to 2.26 million units sold by the former in the first three months of 2007. Toyota has finally annexed the throne of the world’s automotive industry as the Americans are reeling under mounting losses. Just to show Toyota’s lead over it’s American counterpart, in 2006, the Nippon star had profits over $11 billion while the ailing GM was busy figuring out reasons behind it’s massive $10.5 billion losses of 2005. One thing Toyota knows well is that there is no way the competition can induce some fear in it.

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Source : IIPM Editorial, 2007

An IIPM and Professor Arindam Chaudhuri (Renowned Management Guru and Economist) Initiative

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People Movements

IIPM BEST B-SCHOOL

• Ajay Gahlaut, who was earlier a Creative Director at McCann Erickson, Mumbai, has joined Rediffusion DY&R as its Executive Creative Director and Creative Head of the Delhi branch. This is Ajay’s third inning with the agency.

• Rima Gupta has moved to Solutions Integrated Marketing Services as its Executive Vice President. Gupta, was earlier Country Head, Henley Center (WPP’s brand consulting arm).

• Sanjay Puthli has bid goodbye to MTV Network to join UTV and Astro Measat’s joint venture, Bindass, as its Senior VPRevenue and Business Head (New Media). He will be looking into the mobile, digital, merchandising and sales divisions of the channel.

• Suresh Balakrishnan has been appointed Chief Operating Officer of the Joint Venture between Living Media India Ltd. (India Today Group) and Associated Newspapers Ltd. The JV is expected to roll out morning newspaper in Delhi.

• Rajesh Tahil, CEO, Radio One, has put in his papers and wishes to explore his entrepreneurial proficiency. Tahil’s own venture, ‘Hill Road Media’, will cater to content related needs of its clients.

• Tata AIG General Insurance Company Limited has elevated Michael Carlin to the Managing Director’s post. He was earlier at the post of COO and fills in the post left vacant by Dalip Verma.

• Mudra’s Chennai Branch Head – Milind Jadhav – has decided to bid goodbye to the company; and Hari Krishnan, Branch Head, Grey Worldwide, Delhi, has moved on to JWT as its new Vice President. He comes after Hemant Mishra left JWT to join Publicis India.

• Also, at Nokia Siemens Networks, Ashish Choudhary will now also take care of Nepal region, apart from India.

Compiled by: Pallavi Srivastava

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Source : IIPM Editorial, 2007

An IIPM and Professor Arindam Chaudhuri (Renowned Management Guru and Economist) Initiative

Prashant Ruia, son of Shashi Ruia and the future of the Essar Group

IIPM PUBLICATION

For that matter, nobody at Essar talks even about the legend of Phoenix, the mythical Greek figure that rises from the ashes. But for almost all corporate analysts who have been tracking the fortunes of Essar and the Ruias since the 1980s, what has happened to the business house in the last few years is akin to a resurrection. Like most successful Entrepreneurs and inheritors who talk in politically correct overtones about the success of their strategy, Prashant Ruia, son of Shashi Ruia and the future of the Essar Group, talks about the importance of professional managers when he says, “As a Group, we lay great emphasis on building and maintaining a cadre of professional managers. Indeed managers are trained at Essar’s own management and training college and are then sent around the world to build skills and experience – just as I was.”

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Source : IIPM Editorial, 2007

An IIPM and Professor Arindam Chaudhuri (Renowned Management Guru and Economist) Initiative

Feasting For Tomorrow

IIPM BEST B-SCHOOL

A survey conducted by ENAM Securities in 2006 shows that Indian consumers spend 51% of private final consumption expenditure on eating. Players are chalking out massive expansion plans (see chart). Pankaj Chaturvedi, CEO, Baskin- Robbins, “The overall market has grown tremendously in India with retail having taken centre stage.”

However, the FMCG sector (Nestle kiosks for instance) and the Ready-to-Eat segment (like the MTR range) pose a major potential threat. Adds Choudhary of FHRAI, “Competition can come in from other sectors also, so it becomes very important to venture into newer areas, where the other players are not there.” An interesting case in point is ITC with its ‘Food Court’, which specifically targets the rural customer – an area where no one ever dared to enter.

So for those QSRs that are looking for the carnival-like ending for their Indian odyssey, a right blend of a localized menu, highly efficient supply chain and innovative market penetration should create the desired magic. For the millions of Asterixes & Obelixes of India, a whole new enchanting world of culinary pleasures beckons. And gastronomy clearly reigns supreme!

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Source : IIPM Editorial, 2007

An IIPM and Professor Arindam Chaudhuri (Renowned Management Guru and Economist) Initiative

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The trend of PE firms going public is positive...

IIPM PUBLICATION

If you were to put it crudely, their core competency is indeed ‘Buy, strip & flip’. But today, some Private Equity (PE) firms are arguably one of the most powerful forces shaping futures of companies. Within the last month itself, two PE buyouts took the markets by storm. The acquisition of TXU Corp. by KKR & Texas Pacific Group for $45 billion ranks as the largest leveraged buyout ever. And before that, Blackstone acquired Equity Office Properties for a whopping $39 billion.

According to researcher Private Equity Intelligence, investors poured a jaw dropping $432 billion into PE funds in 2006. Critics, however, vehemently oppose their practices. Steven VanBever, senior examiner, Supervision & Regulation, The Federal Reserve, states, “Some of the approach (by PE firms) to valuation has not been as clear as it could be.” Standard & Poor states that PE funds have led to significant decline of credit quality in European companies. Share of companies with junk rating rose to 17.2% in 2006 from a level of 1.2% in 2005.

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Source : IIPM Editorial, 2007

An IIPM and Professor Arindam Chaudhuri (Renowned Management Guru and Economist) Initiative

Former beauty queen

IIPM BEST B-SCHOOL

Former beauty queen, television host and compere, Manpreet Brar Wallia, in a B&E exclusive, offers a faithful’s insight into the unique philosophy and practice of Sikhism – the faith of valour!

The month of April in North India, especially Punjab, heralds the festival of Besakhi, which marks the Punjabi New Year and a beginning of the harvest season. Historically, this is a very relevant day for Sikhs. It was on this day in 1699 that the 10th Guru, Guru Gobindh Singh Ji had invited all his followers to the Baisakhi Fair near Anandpur. And it was here that Guru Gobindh anointed the ‘Panj-Pyara’, as soldiers who would dedicate their lives to the service of others and pursuit of justice for all. On this historic day, he also gave the Sikhs the five K’s (Kirpan, kesh, kachcha, kada, kanga) by which they would be recognised. He gave them a physical form that would distinguish them and make them stand apart. One of the most wonderful things about Sikhism is its sense of tolerance and liberalism. As the founder and the first guru, Guru Nanak formed this to unite people and taught them the unity of God.

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Source : IIPM Editorial, 2007

An IIPM and Professor Arindam Chaudhuri (Renowned Management Guru and Economist) Initiative